RBC Capital Markets 2028 online assessment guide

For
2028 summer analysts
Sources
9 cited

Got your RBC Capital Markets test invite? Try the tests below in the real format, then read what each one asks, where the personality test fits in and what comes after.

Intervyo's RBC Capital Markets numerical reasoning practice on Aon-style screens: round tabs over a company datasheet, a statement below with true, false or cannot say, and the section clock in the top bar.
Intervyo's RBC practice: Aon-style numerical reasoning on a company datasheet, each statement true, false or cannot say.

Key facts

  • When: Expect the tests after you apply and before any interview. In one sitting (Oct 2024, summer 2025 cycle) the online test came first, then a 15-minute phone interview.9
  • Which tests: One sitting (Oct 2024, summer 2025 cycle) held numerical and logical reasoning, verbal reasoning and a behavioral test.9
  • Numerical and verbal: Statements to judge against data sheets of tables, charts or text: true, false or cannot say. You can move between statements, and the test is timed and you are not expected to finish.4,5
  • Inductive and switchChallenge: Aon's inductive-logical and switchChallenge tests have no set number of questions: a new one comes each time you finish one, they can get harder, and each runs 6 minutes.3,6,7
  • Personality test: Houston (Feb 2025, summer 2026) and Dallas (Dec 2025, summer 2027) investment banking processes included a personality test, as did the New York Advisory Program (Oct 2026, summer 2028).8,9
  • Breaks: You can usually take breaks between tests, but once a test starts you cannot pause it and come back later.3
  • Next step: If you are selected, a 30-minute phone or in-person first round that reviews your technical ability, interpersonal skills, long-term potential and fit.1

Each Aon test opens with untimed instructions and practice examples you can repeat, and its clock starts only when the real test does. Read the instructions screen for each test's count and time.3,6,7

Try the tests

RBC Capital Markets online assessment0 of 4 demo tests done

Aon's four tests as the app sets them for RBC Capital Markets, 4 questions each, on the same screens as the app. Each one opens in its own window, with a report at the end.

Numerical reasoning

One company datasheet behind six tabs: revenue, capital raised, margins, two charts and a forecast. Judge each statement true, false or cannot say.

4 questions · 1:20

Verbal reasoning

One company report behind six tabs: structure, financials, operations, people, locations and outlook. Judge each statement on the text alone.

4 questions · 1:20

Inductive reasoning

Two grids share a rule. Pick the two of the next four grids that follow it.

4 questions · 1:20

3241

switchChallenge

Work out the code that turns the top row of shapes into the bottom row, then lock it in with the padlock.

4 questions · 1:20

What the RBC Capital Markets online assessment looks like

  1. The invite

    Expect the invite by email after you apply, before any interview. Aon tests can usually be taken on different days, with breaks between them, up to the deadline in the invite, but each test runs without a pause once it starts, so start each one when you have a quiet stretch.9,3

  2. Numerical and verbal reasoning

    Each statement refers to one data sheet: tables and charts for numerical, written text for verbal. Answer true, false or cannot say; only one is right. You can move between statements, though Aon advises working in order. Have a calculator, pen and paper ready for numerical. Neither test expects you to finish, so work quickly and accurately.4,5,9

  3. Inductive-logical reasoning

    Two example 3x3 grids of simple shapes share a rule. Pick the two of four grids that follow it (there are always exactly two), then click on to the next question. There is no set number of questions, they can get harder, and Aon's version runs 6 minutes.6,3

  4. switchChallenge

    A row of four shapes (the input) turns into a new order (the output). Pick the four-digit code that makes the change: each digit says which input position the shape in that slot came from. Harder questions chain two codes, where the first code's output is the second one's input. Questions keep coming for 6 minutes.7,3

  5. The personality test

    Houston (Feb 2025, summer 2026) and Dallas (Dec 2025, summer 2027) investment banking processes included a personality test, and so did the New York Advisory Program (Oct 2026, summer 2028). One sitting (Oct 2024, summer 2025 cycle) put a behavioral test beside the reasoning tests. Expect one, and answer it as you work, with RBC's posted behaviors in mind.8,9,2

  6. After you submit

    Those selected go on to a first round: a 30-minute phone or in-person meeting that reviews technical ability, interpersonal skills, long-term potential and fit. In one sitting (Oct 2024, summer 2025 cycle) the online test came first, then a 15-minute phone interview.1,9

The tests, as Aon builds them

Numerical reasoning 18 in 6 min
One data sheet of tables and charts; 18 statements, true, false or cannot say. Aon's longer standard version is 37 statements in 12 minutes.
Verbal reasoning 18 in 6 min
One written document; 18 statements, true, false or cannot say. Aon's longer standard version is 49 statements in 12 minutes.
Inductive-logical reasoning 6 min
No set number of questions; pick the two of four grids that follow the rule, as many as you can.
switchChallenge 6 min
No set number of questions; pick the code that turns the input row into the output row, as many as you can.
Personality test Check your invite
Questions about how you work, in some processes.

Intervyo sets numerical and verbal at 18 statements in 6 minutes each, and the two streams at Aon's standard 6 minutes. Each test's instructions screen gives the real figure before its clock starts.3,6,7

Before you start the tests

  • A laptop or desktop on a stable connection, with an up-to-date browser and other tabs closed.
  • For numerical: a calculator, pen and paper.
  • Pen and paper for switchChallenge too, for two-row codes.
  • Aon's practice tasks for each test your invite lists.
  • RBC's posted behaviors read once before any personality or behavioral part.
  • One test at a time: rest between tests, never inside one.
  • Phone off and the door shut: a test cannot be paused once it starts.

The sections, one by one

Aon's numerical and verbal tests read how you evaluate statements against figures and text, its inductive-logical test how you spot a rule shared by a group of patterns, and switchChallenge how you apply rules to a logical problem in one or more steps. A behavioral or personality part has sat beside them in RBC processes.4,5,6,7,9

  • Numerical reasoning: Statements about tables and charts: true, false or cannot say.
  • Verbal reasoning: Statements about written documents: true, false or cannot say.
  • Inductive-logical reasoning: Two grids share a rule: pick the two of four that follow it, as many times as you can.
  • switchChallenge: Find the code that turns one row of shapes into another, as many times as you can.
  • Personality test: Questions about how you work, in some processes.

Here is each test as it appears in Intervyo, built on Aon's screens: round icon tabs over the data, one statement at a time with wide true, false and cannot say buttons, then the two 6-minute streams. Every Aon test opens with instructions and practice examples you can repeat before its clock starts. Each block says what the test is checking and how to answer it well.3,4,6,7,9

1.Numerical reasoning18 questions, 6 minutes

RBC Capital Markets numerical reasoning in Intervyo: round tabs over a company datasheet with the revenue table open, the statement below with true, false or cannot say, and the section clock in the top bar.

You get one company datasheet split across round icon tabs: tables, charts and forecasts. The tabs do not change during the test, and each statement draws on only one of them. You judge the statement true, false or cannot say, and you can move back and forth between statements. Have a calculator, pen and paper ready. In Intervyo it is 18 statements in 6 minutes, about 20 seconds each, and you are not expected to finish.4,3

What it measures: Finding the one tab a statement depends on, reading the exact figure and unit, and doing quick ratios, shares and changes without slipping.

How to answer it well

  1. 1Read the statement first and name the tab it needs, then open only that tab.
  2. 2Check the year, the unit and whether a figure is a total or one line before you calculate.
  3. 3A share of a total moves when the total moves. Recompute both shares rather than comparing the raw figures.
  4. 4Percentage points are not percent: 29% to 32% is 3 points, a rise of about 10%.
  5. 5Answer cannot say only when the figure you need is missing from every tab. An awkward sum is never cannot say.
  6. 6Work in order and do not stall on one statement. Aon usually takes points off for a wrong answer, so estimate first and only commit when the estimate is clear.

Best guessBest guess: 18 statements in 6 minutes, the length Intervyo sets. Aon's standard version is 37 in 12, so read your instructions screen for the real count and clock.

2.Verbal reasoning18 questions, 6 minutes

RBC Capital Markets verbal reasoning in Intervyo: round tabs over a company document, and the statement below with true, false or cannot say.

The same layout with words instead of figures: one company document split across tabs, each paragraph dense with who did what, who never did and who only sometimes did. Each statement concerns one tab, and you judge it on the text alone. In Intervyo it is 18 statements in 6 minutes.5,3

What it measures: Reading closely under time pressure: telling what the document says, what it rules out and what it leaves open.

How to answer it well

  1. 1Pick the tab from the statement's subject before you read anything else.
  2. 2True means the text says it or it follows directly. False means the text says the opposite or rules it out.
  3. 3Words like "only", "all", "some" and "never" decide most answers. Underline them in your head.
  4. 4Do not fill gaps with what a bank would usually do. If the text does not settle it, the answer is cannot say.
  5. 5Check the statement names the same team, year or product the paragraph does before you answer.

Best guessBest guess: 18 statements in 6 minutes, as for numerical. Aon's standard version is 49 in 12, so read your instructions screen for the real count and clock.

3.Inductive-logical reasoningAs many as you can, 6 minutes

RBC Capital Markets inductive reasoning in Intervyo: two example grids that share a rule, four grids to choose two from with one selected, and Next.

Two 3x3 example grids filled with simple shapes follow a rule. You work out the rule and select the two of four grids that follow it; there are always exactly two, and you can unselect one if you change your mind. There is no set number of questions: a new one comes each time you finish one, and they may get harder. Many are quite straightforward, so speed matters as much as accuracy.6,3,9

What it measures: Spotting a pattern among a group of items quickly, testing it, and moving on.

How to answer it well

  1. 1Put the rule into words from the two examples before you look at the four options.
  2. 2Check counts first (how many shapes, how many of each kind), then positions (rows, columns, corners, diagonals).
  3. 3Rules can compare two counts, such as as many circles as squares. Count every shape type, not just one.
  4. 4Exactly two options fit. If three fit, your rule is too loose; if one fits, it is too tight.
  5. 5Give a question about 20 seconds. If the rule has not come, pick your best two and take the next one.

Best guessBest guess: Intervyo includes this test beside numerical and verbal. The one dated list of RBC's parts (Oct 2024, summer 2025 cycle) names a logical reasoning test without saying which one, so your invite shows whether it is this test, switchChallenge or both.

4.switchChallengeAs many as you can, 6 minutes

RBC Capital Markets switchChallenge in Intervyo: a row of four shapes above a reordered row, three four-digit codes to choose from, and the padlock to confirm.

Each question shows an input row of four shapes, a code and an output row. You pick the code that turns the input into the output: a code of 1-2-3-4 leaves the order as it was, and 1-3-2-4 swaps the middle two. In Intervyo you choose from three codes and press the padlock to confirm. Harder questions spread the code across two rows, where the first code's output becomes the second's input. There is no set number of questions.7,3

What it measures: Applying given rules to a logical problem in one or more steps, quickly and without slips.

How to answer it well

  1. 1Read the output slot by slot: for each shape, write the input position it came from. That is the code.
  2. 2Shapes that did not move give you digits for free. Fill those first, then the rest.
  3. 3On a two-row question, work out the middle row on paper before you check either code.
  4. 4Use the wrong codes to check yourself: each should put at least one shape in the wrong slot.
  5. 5Keep a steady pace. A question you are stuck on costs you the next few.

Best guessBest guess: three codes to choose from, as in Aon's practice tasks, and a 6-minute stream, as Intervyo sets it. Your instructions screen gives the real layout.

Example items and how to approach them

Numerical reasoning"Data sheet: advisory revenue by group, in $ millions. Year 1: M&A 420, equity capital markets 180, debt capital markets 250. Year 2: M&A 462, equity capital markets 171, debt capital markets 300. Statement: "Debt capital markets' share of the three groups' total revenue rose by more than 3 percentage points from Year 1 to Year 2." True, false or cannot say?"4
  1. 1Find the rows the statement names and the total it is measured against.
  2. 2Turn the words into a sum: a share is one line over the total, worked out for each year.
  3. 3Compare the two shares in percentage points, not as a percent change.
  4. 4Answer cannot say only when the sheet is missing something you need.

Tip: Written by Intervyo in Aon's format: a statement judged against one data sheet. Not an RBC item. The trap is that the total grows too.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. Year 1 total: 850, so debt capital markets is 250 / 850 = 29.4%. Year 2 total: 933, so it is 300 / 933 = 32.2%. The share rose by about 2.7 points, not more than 3, so the statement is false.

Verbal reasoning"Passage: "All summer analysts in the energy group attend a two-week training program before they join deal teams. Training covers accounting and valuation. Modeling sessions are given only to analysts who have not completed an approved modeling course." Statement 1: "Some summer analysts in the energy group skip the modeling sessions." Statement 2: "Energy group summer analysts join deal teams before their training starts." True, false or cannot say?"5
  1. 1Use only the passage. What you know about real banks does not count.
  2. 2True: the passage says it, or it follows directly.
  3. 3False: the passage says the opposite, or rules it out.
  4. 4Cannot say: the passage does not settle it either way.

Tip: Written by Intervyo in Aon's format. Not an RBC item. "Only" sets up a condition; ask whether the passage says anyone meets it.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. Statement 1 is cannot say: analysts with an approved course would not get the sessions, but the passage never says any analyst has one. Statement 2 is false: the passage says analysts attend training before they join deal teams.

Inductive-logical reasoning"Example grids: the first holds two circles and two squares, the second three circles and three squares, placed differently in each. Which two of these four grids follow the rule? (a) one circle and one square; (b) two circles and three squares; (c) four circles and four squares; (d) three circles, two squares and a triangle."6
  1. 1Count every shape type in each example grid.
  2. 2Look for what the two examples share: a count, a comparison of counts, or a position.
  3. 3Check the rule on both examples before you look at the options.
  4. 4There are always exactly two right grids. If three fit, your rule is too loose; if one fits, it is too tight.

Tip: Written by Intervyo in Aon's format, described in words. Not an RBC item. Positions change between the examples, which tells you the rule is about counts.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. The rule is as many circles as squares. (a) and (c) follow it. (b) has one more square than circles, and (d) has one more circle than squares, so both break it.

switchChallenge"Input row: circle, square, triangle, star. Output row: triangle, circle, star, square. Which code turns the input into the output? (a) 3-1-4-2; (b) 1-3-2-4; (c) 3-2-4-1."7
  1. 1Number the input shapes 1 to 4 from the left.
  2. 2For each output slot, write the input number of the shape now sitting there.
  3. 3Read the four numbers off in order: that is the code.
  4. 4Check the answer against the options, and test one wrong option to be sure.

Tip: Written by Intervyo in Aon's switchChallenge format, described in words. Not an RBC item. On a two-row question, the first code's output is the second code's input.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. The output's first slot holds the triangle, input 3; the second the circle, input 1; the third the star, input 4; the fourth the square, input 2. The code is 3-1-4-2, option (a). Option (c) would put the square second, so it is wrong.

Practice for RBC Capital Markets with Intervyo

Start free to practice RBC Capital Markets questions and track when it opens. Go deeper on RBC Capital Markets with the pack, or cover every firm you apply to with the Season Pass.

Free

Try it and track RBC Capital Markets

$0no card

Sign up free
  • An online assessment in the real format
  • 2 HireVue-style questions, scored
  • A resume review and a cover letter
  • The tracker, with alerts for 5 companies

Season Pass

Save 63%

Every company you apply to

$16.58a month

Get the Season Pass
  • 150 online assessment runs a month
  • 130 HireVue-style questions a month, every company
  • 20 live AI mock interviews a month
  • 5 superday simulations a month
  • 30 resume reviews and 90 cover letters a month

$199 a year, or $44.99 monthly. Cancel any time.

How long to hear back after the online assessment

After the tests, selected applicants get a short first round, often a phone call. Recent processes ran start to finish in one to two months, several in under a month.1,8,9

  1. Oct 2024 (summer 2025)

    Summer intern

    An online test of numerical and logical reasoning, verbal reasoning and a behavioral test, then a 15-minute telephone interview; under a month in all.9

  2. Feb 2025 (summer 2026)

    Investment banking, Houston

    A skills test and a personality test listed, with networking, a virtual first round and an in-person superday of 6 interviews, all within a month.8

  3. Dec 2025 (summer 2027)

    Investment banking, Dallas

    A personality test listed beside a phone interview with two associates; one to two months in all.9

  4. Oct 2026 (summer 2028)

    Advisory Program, Capital Markets, New York

    A personality test listed beside one behavioral interview; under a month from start to offer.9

Aon writes a feedback report for each test, and whether you see it rests with the company you applied to. Note how far you got in each test yourself, in case no report comes.3

Best guessExpect a first-round call within two to four weeks of finishing the tests if RBC takes you forward. If a month passes with nothing, keep networking with the group you want and keep your other applications moving.

What happens after the online assessment

  1. Online application

    Resume and the online form on RBC's Workday board, with investment banking posted by office.1,2

  2. Online assessmentYou are here

    This page. Online reasoning tests after you apply; a personality test in some recent investment banking processes.9,8

  3. First round

    A 30-minute phone or in-person interview reviewing technical ability, interpersonal skills, potential and fit; recently a call, mostly behavioral.1,9

  4. Superday

    A final round of two to three interviews with people from your business, in certain cases at RBC's offices; six back to back in Houston (Feb 2025, summer 2026).1,8

Online assessment vs first round

Both come early. The tests read your reasoning from your answers; the first round hears you explain yourself.

Format

Online tests

Timed reasoning tests, with a behavioral or personality part in some processes.9,8

First round

A 30-minute phone or in-person meeting.1

Who gets it

Online tests

Applicants, by email after they apply.9,3

First round

Those selected after the tests.1,9

How it is judged

Online tests

Points for correct answers, usually with points off for wrong ones.3

First round

Technical ability, interpersonal skills, long-term potential and fit.1

How to prepare

Online tests

Aon's practice tasks for each test.3,4,5,6,7

First round

Why RBC, your resume and the markets; recent calls were mostly behavioral.9

2028 summer analyst status

For summer 2028, the New York investment banking posting went up on Nov 4, 2026 and closes Jan 1, 2027. Expect the tests after you apply, so from November 2026 into January 2027, depending on when you submit.2,9

FAQ

What tests are in the RBC Capital Markets online assessment?

Expect online reasoning tests after you apply, and in some processes a personality test. One sitting (Oct 2024, summer 2025 cycle) held numerical and logical reasoning, verbal reasoning and a behavioral test. Intervyo's practice runs Aon's numerical, verbal and inductive-logical tests and switchChallenge.9,8,3

How long are the RBC Capital Markets tests?

Aon's inductive-logical and switchChallenge tests run 6 minutes each, as many questions as you can. Intervyo sets numerical and verbal at 18 statements in 6 minutes each; Aon's standard versions are 37 in 12 and 49 in 12. Each test's instructions screen gives the real figure before the clock starts.3,6,7

Is there a personality test at RBC Capital Markets?

Expect one. Houston (Feb 2025, summer 2026) and Dallas (Dec 2025, summer 2027) investment banking processes included a personality test, and so did the New York Advisory Program (Oct 2026, summer 2028). Answer it as you really work, with RBC's posted behaviors in mind: collaboration, relationship building, communication, integrity and a diverse and inclusive mindset.8,9,2

Can you go back to earlier questions in the numerical and verbal tests?

Yes. Aon's numerical and verbal tests let you move between statements, though Aon advises working in order. The inductive-logical test and switchChallenge work differently: you answer, then a new question comes.4,5,6,7

How are the RBC Capital Markets tests scored?

On Aon's reasoning tests, points are usually added for each correct answer and taken off for each wrong one, and you are not expected to finish. Work quickly but carefully rather than guessing at random near the end.3,4,5

Can you pause the RBC Capital Markets online assessment?

Between tests, usually yes; inside a test, no. Once a test starts it runs to the end of its clock, so take each one when you will not be interrupted.3

What happens after the RBC Capital Markets online assessment?

Those selected get a first round: a 30-minute phone or in-person meeting that reviews technical ability, interpersonal skills, long-term potential and fit. In one sitting (Oct 2024, summer 2025 cycle) it was a 15-minute phone call on the resume, with a DCF walk-through at the end.1,9

How can I practice for the RBC Capital Markets online assessment?

Start with Aon's practice tasks for numerical, verbal, inductive-logical reasoning and switchChallenge. Intervyo's RBC practice runs as one Aon-style job simulation: messages from colleagues pile up while you work, and emails hand you the numerical, verbal and inductive tests, which open inside it. switchChallenge is taken on its own, and you get one combined report at the end.3,4,5,6,7

Online assessment at other firms

Sources

Firm pages first, then dated candidate reports. Last checked Nov 11, 2026.

  1. 1RBC Capital Markets: Working Here
  2. 2RBC (early-talent job board): 2028 Capital Markets, Global Investment Banking Summer Analyst (New York)
  3. 3Aon: Prepare for your Online Assessment
  4. 4Aon: Practice Tasks: Numerical Reasoning
  5. 5Aon: Practice Tasks: Verbal Reasoning
  6. 6Aon: Practice Tasks: Inductive Logical Reasoning (scales clx)
  7. 7Aon: Practice Tasks: Deductive Logical Reasoning (switchChallenge)
  8. 8Candidate report on a public forum: Investment Banking Summer Analyst interview, Houston (Feb 2025)
  9. 9Candidate reports on a public forum: RBC Capital Markets Interview Questions (2026)

Intervyo isn't affiliated with, endorsed by or sponsored by RBC Capital Markets. Formats change between cycles and divisions, so always follow the instructions in your own invite.